South Carolina commits $375m to two real estate funds
The South Carolina Retirement System Investment Commission has committed a total of up to $375 million to real estate on behalf of the $29.5 billion South Carolina Retirement Systems.
The commission has made a commitment of up to $300 million to Blackstone Property Partners and $75 million to Brookfield Strategic Real Estate Partners II. The investment decisions were made at the commission’s April 23 meeting.
Blackstone Property Partners is an open-end, core-plus real estate fund managed by The Blackstone Group that focuses on investments in office, retail, industrial and multifamily properties primarily in the United States. RSIC has previously invested in other Blackstone funds.
Brookfield Strategic Real Estate Partners II is managed by Brookfield Asset Manageme